- Express Checkout
- Express Checkout #52 - the latest in CPG, Retail, and eComm
Express Checkout #52 - the latest in CPG, Retail, and eComm
Commerce and CPG news from the week of 11/27/2023
I’m back from NOSH Live, it was, as always, an incredible conference! The BevNet team knows how to put on a show!! I had some great snacks, and saw some great speakers! Hello to all my news subs
California Almonds, I’m open to a sponsorship too
I can't believe it's December, this month I'm working on mapping out 2024 for Express Checkout. If you want to partner with me or sponsor, please reach out!
I'm also still raising funds for my CPG brand and looking for pre-seed funds and angels!
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🔥 Big News - 10 items or less 🔥
What does the Fox say? - Chicago grocers Foxtrot and Dom's are merging to form Outfox Hospitality, with Foxtrot's former president Liz Williams becoming the new CEO. (source)
Great, more fast fashion gains 🙄 - Fast fashion giant Shein has confidentially filed for an IPO in the U.S., aiming for a valuation of $90 billion. The company faces challenges including investigations into its ties to Beijing, concerns about forced labor, environmental issues, and copyright infringement. Shein is working to improve its image and has acquired a stake in Sparc Group. It has also partnered with retailers like Forever 21 to launch co-branded clothing lines. (Source)
Should we expect MORE layoffs? - VF Corp, the owner of Vans, has laid off 500 employees as part of a restructuring effort. (source)
This is literally my dream - Safeway and MrBeast partnered on a challenge for MrBeast's YouTube channel, raising over $450,000 worth of products for local charities. The challenge involved a contestant living inside a Safeway grocery store, winning $10,000 for each day stayed but also donating $10,000 worth of products daily. Safeway worked with technology company Copia to manage the donations, and brand sponsors helped stock the store. (Source)
🗞️ News from the week (11/27/23 - 12/3/23)
Macy's is introducing a luxury beauty concept in Miami, featuring revamped shop designs, virtual try-on technologies, relaxation rooms, and branded treatment rooms. The concept aims to cater to the growing demand for prestige beauty and will include brands like La Mer, Dior, and Clarins. (source)
Ikea is opening a Plan and Order Point store in Southlake, Texas, as its third location in the Dallas-Fort Worth market. The 10,800-square-foot store will offer design consultations and serve as a pickup location for online orders. (source)
Kwik Trip is adding self-checkouts to all new stores, with plans to open about 30 new stores in 2024. Existing stores will not be retrofitted. (source)
Fossil is implementing a new mobile point-of-sale tech across its stores to enhance the shopping experience. The adoption of mobile POS systems is a growing trend among retailers. (source)
I just didn’t know Fossil was still in business!
Casey's has confirmed the acquisition of 11 EZ-GO convenience stores in Nebraska and Oklahoma from Love's. (source)
🛒 CPG & Consumer Goods
Vacation, a suncare brand inspired by the 80s, is reviving the iconic Ban de Soleil Orange Gelèe tanning gel. The original product, popular in the 70s and 80s, was discontinued in 2019, leading to high prices on eBay and fan attempts to recreate it. (source)
Food giants Kraft, General Mills, Kellogg, and Nestle have been awarded $17.7 million in damages by a Chicago federal jury in a price-fixing case against the largest U.S. egg producers and industry trade groups. The damages could be tripled under U.S. antitrust law, potentially reaching over $53 million. (source)
Kombucha brand Better Booch, has launched N/ATIVE, a non-alcoholic sparkling wine made with bioavailable cultures and premium teas. (source)
The Kraft Heinz Co. has launched its first plant-based Kraft Mac & Cheese offering through its joint venture with TheNotCompany, Inc. The product, called Kraft NotMac&Cheese, aims to cater to the growing demand for better-for-you macaroni and cheese products. (source)
Neutrogena has launched new skin supplements, including Skin Hydration Gummies and Clear Complexion Gummies, formulated with dermatologists. (source)
Chartreuse has opened a new visitor center in Paris dedicated to the history of the Carthusian monks and their herbaceous liqueur. (source)
Tonal has filed a lawsuit against Chinese rival Speediance, alleging patent infringement and false advertising. (source)
MagicDash, a recently launched AI tool developed by Peel Insights, aims to assist DTC brands in maximizing lifetime customer value by providing valuable retention insights and opportunities. By analyzing customer data, MagicDash generates user-friendly reports, headlines, and alerts. Check out my interview with Ben Hindman, Co-founder and CMO.(source)
🏭 Supply Chain
Bed Bath & Beyond's bankruptcy estate has filed a mega-claim of over $100 million against Mediterranean Shipping Co. (MSC), the world's largest ocean carrier, for alleged damages suffered during the supply chain crisis. BBBY's estate is also seeking double reparations due to MSC's alleged willful retaliatory conduct. (source)
Sam's Club, a division of Walmart Inc., plans to open two new distribution centers in St. Louis and Minneapolis as part of its multi-year growth plan to transform the supply chain. (source)
Post Holdings has announced plans to close its Post Consumer Brands cereal manufacturing facility in Lancaster, Ohio, in order to reduce capacity in its cereal production network. The facility is expected to close by the end of September 2024. The closure is expected to result in annual cost savings of approximately $23 to $25 million starting in fiscal year 2025. (source)
💸 Funding news
Plant-based milk maker Ripple Foods has raised $49 million in a new funding round, bringing its total funding to over $274 million. (source)
ROAR Organic has secured $6 million in fresh capital, bringing its total funding to $26 million. (source)
Japanese beverage giant Suntory Holdings has made a multimillion-dollar investment in Seattle-based 'beanless' coffee brand Atomo Coffee. The investment will help accelerate Atomo Coffee's vision of delivering sustainable and delicious beverages globally. Atomo Coffee has previously raised over $50 million in funding. (source)
Arcade Beauty has successfully acquired ORLANDI's TruEssence® business, including laboratory and production equipment. (source)
Trackstar, a startup backed by Y Combinator, has raised $2.6 million in a seed round led by TMV. They have developed the world's first universal API for Warehouse Management Systems. (Source)
7-Eleven International has entered into an agreement to acquire 7-Eleven Australia, the largest independent convenience store chain in Australia, for A$1.71 billion in cash. (source)
Backcountry, an outdoor retailer, has entered into an agreement to sell its European subsidiary, Bergfreunde, to Decathlon, a global sporting goods retailer. This move is part of Backcountry's efforts to focus on the North American market. (source)
🧐 Interesting reads
Class A malls continue to be in high demand (Modern Retail)
💡 Data, reports, and trends
Thanks for reading! If you have any suggestions, feedback, or stories I missed, let me know!
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